Digital assets continue to act as risk assets, falling as global interest rates rise, Bank of America said in a research report Friday.are a type of cryptocurrency whose value is pegged to another asset, such as the U.S. dollar or gold.
Last week these inflows jumped to $490 million, 58% higher than the previous week, the report said, as “real world use cases like payments/remittances are adopted and real-world data providers like decentralized oracle networks increase functionality.” The four largest stablecoins witnessed exchange net inflows for the third week in a row, the report said, noting that large Binance USD inflows/USD Coin outflows could be the result of investors “preemptively rotating” into BUSD from USDC to avoid disruptions followingBank of America expects regulatory clarity to support decentralized finance adoption.
The jump in ether’s price from mid-July to mid-August continues to reverse as investors digest that the Ethereum blockchain’s switch to does not fix scalability concerns or high fees, and these investors shift to a “wait-and-see approach regarding future upgrades,” the note said.
BankofAmerica willcanny99 Whatis a 'fork'?
BankofAmerica willcanny99 Seems like the real risk asset here is USD
BankofAmerica willcanny99 Crypto is deflationary... there are many other factors than interest rate hike which could affect low volumes in crypto...
BankofAmerica willcanny99 Positive signs of an eventual recovery include stablecoin inflows.
BankofAmerica willcanny99 Crypto is on warm stand by when leveraged debt economy implodes. All fiat currencies eventually fail.
BankofAmerica willcanny99 MahsaAmini مهسا_امینی
BankofAmerica willcanny99 Kahkahkahkah Bank and Bitcoin both scam
BankofAmerica willcanny99
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